Malayan Cement may rise higher after hitting a new 52-week high with a white candle yesterday. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in early April, the uptrend may continue in the near term. A bullish bias may emerge above the RM3.00 level, with a stop-loss set at RM2.78, below the 50-day EMA. Towards the upside, the near-term resistance level is seen at RM3.50, followed by RM3.80.

Entry : RM3.00–3.20

Target : RM3.50, RM3.80

Exit : RM2.78

Source: AmInvest Research - 6 Jul 2023